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Alden Way Apartments 3538 Alden Way 5 Unit Apartment Building $3,463,100 CAD ($692,620 CAD/Unit) 4.01% Cap Rate San Jose, CA 95117
Investment Highlights
- Five-unit apartment building with large two-bedroom/ one-bathroom units
- Units are individually metered for electricity and natural gas; master meter for water
- Easily accessible from Interstate 280 at Saratoga Avenue and Winchester Boulevard
- New windows, parking lot, landscaping, irrigation system, water heater, gutters, and heaters
- Less than one mile from Westfield Valley Fair and Santana Row
Executive Summary
Located in desirable West San Jose, 3538 Alden Way offers comfortable apartment living in a quiet, well-maintained community. The property consists of five spacious two-bedroom/one-bathroom units that average 1,045 square feet. The property provides on-site shared laundry facilities, carport and open parking, and storage closets for all units. Additionally, each unit features a large, enclosed patio or balcony.
The property has undergone extensive recent capital improvements over the last several years. The seller has installed dual-pane vinyl windows, fully repaved the parking lot, replaced the landscaping and irrigation system, updated the laundry room and installed a new water heater, replaced the gutters, and put new heaters in three of the units. These improvements provide tremendous value for the buyer as they eliminate the need for near-term capital improvements.
The property has undergone extensive recent capital improvements over the last several years. The seller has installed dual-pane vinyl windows, fully repaved the parking lot, replaced the landscaping and irrigation system, updated the laundry room and installed a new water heater, replaced the gutters, and put new heaters in three of the units. These improvements provide tremendous value for the buyer as they eliminate the need for near-term capital improvements.
Property Facts
| Price | $3,463,100 CAD | Building Class | C |
| Price Per Unit | $692,620 CAD | Lot Size | 0.19 AC |
| Sale Type | Investment | Building Size | 5,228 SF |
| Cap Rate | 4.01% | Average Occupancy | 100% |
| No. Units | 5 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1958 |
| Property Subtype | Apartment | Parking Ratio | 1.72/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | RM | ||
| Price | $3,463,100 CAD |
| Price Per Unit | $692,620 CAD |
| Sale Type | Investment |
| Cap Rate | 4.01% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 5,228 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1958 |
| Parking Ratio | 1.72/1,000 SF |
| Zoning | RM |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 5 | - | 947 - 1,149 |
1 1
Moderately walkable
60/100
Very drivable
80/100
Some public transit
40/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 303-29-015 | Improvements Assessment | $1,382,607 CAD |
| Land Assessment | $1,350,455 CAD | Total Assessment | $2,733,062 CAD |
Property Taxes
Parcel Number
303-29-015
Land Assessment
$1,350,455 CAD
Improvements Assessment
$1,382,607 CAD
Total Assessment
$2,733,062 CAD
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Alden Way Apartments | 3538 Alden Way
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